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Goolsbee says inflation concerns outweigh labor worries for the Fed

Reported · Written up by our desk · Central Banks

Chicago Fed President Austan Goolsbee said the labor market is steady, but that inflation is the more important side of the Federal Reserve’s mandate, in an interview with Fox Business.

He noted the Fed’s dual goals include price stability and full employment, and said monetary policy relies on adjusting interest rates to influence inflation and economic activity.

The Fed typically raises rates when inflation runs above its 2% target, which can strengthen the US dollar by increasing borrowing costs and making the US more attractive to investors seeking where to park capital.

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